With social media being such a prominent part of our daily lives, much of our content consumption takes place online. In fact, according to HubSpot Blogs research, 76% of American adults have made purchase decisions online. That’s potentially huge consumer reach for businesses across industries. But exactly what type of business leads to success in the online world? In this article, we’ll explore the various factors that can make or break your online marketing strategy.
One of the most important considerations when crafting your online marketing strategy is the pricing structure of your plan. Just like with traditional marketing, the cost of acquiring a new customer can vary widely depending on your chosen strategy. For example, you might want to focus on social media marketing to reach more people, thus increasing your potential to find new customers. But if your budget only allows for paid ads on online marketplaces, you might be better served focusing on SEO and content marketing.
When it comes to pricing, it’s essential to consider not just the cost of the plan but also the value you get out of it. Are you getting the right value for your money? You can also use metrics like the cost per acquisition (CPA) to measure the success of your chosen strategy. The CPA is the cost of a single conversion (i.e., acquisition) divided by the number of times that action was taken (i.e., the conversion ratio).
Depending on your chosen strategy, you’ll need to decide which marketing technique to use. This could be paid ads, paid social media engagement or content marketing. Each technique has its perks but also its flaws. For example, while paid ads can be effective if you have the budget for it, they can also be expensive if you’re not paying attention to your PPC account details. (If you’re currently focusing on paid ads, it’s important to review your account settings and budget so you can properly analyze the effectiveness of your efforts.)
Marketing techniques like SEO and content marketing are more effective if you want to build a brand and generate long-term leads. But if your ultimate goal is to gain customers now, you might want to consider paid ads.
Once you have established the pricing for your online marketing plan, you can begin to build an audience. Similar to with traditional marketing, the type of people you want to attract will vary by industry. However, just like with traditional marketing, the lines between digital and non-digital advertising become blurred. Your chosen marketing technique will determine your chosen audience.
If your goal is to reach consumers with your product or service, your audience will be mainly made up of people like you. It’s also very important to note that the audience you choose for your paid ads will impact their effectiveness.
But if your goal is to grow your business with long-term leads, you might want to consider an audience made up of businesses like yours. This way you can ensure that your ads are sent to the right audience and increase the chances of your ads being clicked on. You can also use tools like Google Adsense to easily find and track the performance of your ads.
While the subject of this article is focused on marketing and the various factors that make up an effective strategy, it’s also important to keep your expectations in mind when considering technology for your online marketing strategy. Just because technology evolves quickly doesn’t mean that keeping up with the trends will ensure success. The same way a business person can’t expect to be effective in a world of online marketing simply because they understand the mechanics of a computer, neither can you expect to succeed just by keeping up with the technological trends.
If your goal is to gain customers now, you might want to consider using tools like HubSpot to quickly build an effective online presence. This could mean using basic websites or blogs with a minimal amount of content to begin with, and then progressively adding more content as you build your audience. If you’re looking for long-term leads, you might want to focus on SEO to drive traffic to your site.
To keep up with the latest trends and gain the most out of your online marketing efforts, it’s essential that you develop the right strategy and use the right tools. Just because a website can be hosted seamlessly on a phone or tablet doesn’t mean that it’s the best option for your business. It all depends on your chosen strategy and the type of audience you want to attract.